Problem - Prepare Bisceglia's income statement, statement of retained earnings, and balance sheet for the year ending December 31, 20X5. The following information is all that is available. Be sure to prepare proper headings and dates on each financial statement.
Capital stock $41,000 Rent expense $10,000
Wage expense 37,000 Accounts payable 4,000
Revenue 90,000 Equipment 80,000
Cash 9,000 Dividends 5,000
Utilities expense 6,000 Accounts receivable 19,000
Beginning retained earnings 11,000 Notes payable 20,000